Raising a glass to profits

Makers of the famous Ararat brand of brandy, are breathing a sigh of relief as Russian sales of brandy (its main market) has recovered in recent years from a slump in the mid-90s. The BBC has an online story about the producer's French owner, Pernod Ricard.

"At the beginning, there was a lot of local resentment about foreigners gaining control of a company regarded with great pride by Armenians" says Mr Larretche.

"We had to quickly demonstrate we were here to stay and not here to simply asset strip the business."

Posted by Matt on June 10, 2004 | TrackBack | Email to a friend